Compensation in Lieu of Medical Benefits Sample Clauses

Compensation in Lieu of Medical Benefits. ‌ Unit members who can provide evidence of other health care coverage may elect to decline coverage by the District and receive $305.00 per month in cash compensation in lieu of medical benefits. This benefit shall be prorated for part-time unit members based on the ratio of the time employed compared to a full-time unit member. This benefit is available to active employees only, may be used for any purpose, shall be paid through an IRC section 125 plan, and will be taxable to the employee. Once health benefits are declined, no change may be made during the benefit year unless authorized under CalPERS approved exceptions to open enrollment period elections. Any employee who declines coverage must renew that declination each year during the enrollment period (from the opening of the enrollment period through December 31st) and provide proof of continuing health coverage.
Sample 1
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Compensation in Lieu of Medical Benefits. ‌ Those full-time unit members who can provide evidence of other health care coverage may elect to decline coverage by the District and receive $305.00 per month in cash compensation in lieu of medical benefits. This benefit shall be prorated for part-time unit members based on the ratio of the time employed compared to a full-time unit member. This benefit may be used for any purpose and will be taxable to the employee. Once health benefits are declined, no change may be made during the benefit year unless authorized under CalPERS approved exceptions to open enrollment period elections. Any employee who declines coverage must renew that declination each year during the enrollment period (from the opening of the enrollment period through December 31st) and provide proof of continuing health coverage.
Sample 1

Related to Compensation in Lieu of Medical Benefits

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

  • Callout Compensation A regular employee who is called back to work outside their regular working hours shall be compensated for a minimum of three hours at overtime rates. They shall be compensated from the time they leave their home to report for duty until the time they arrive back upon proceeding directly to and from work.

  • Employee Compensation Upon Separation An Employee, upon her separation from employment, shall be compensated for vacation leave to which she is entitled.

  • Supplemental Benefits The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

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